We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Frontier Airlines Hldgs (MM) | NASDAQ:FRNT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.49 | 0 | 01:00:00 |
Frontline 2012 Ltd. (the "Company" or "Frontline 2012") is pleased to announce that it has entered into an agreement with Avance Gas Holding Ltd. ("AGHL") whereby AGHL shall acquire eight, fuel efficient 83,000 cbm VLGC newbuildings from Frontline 2012 immediately following their delivery to Frontline 2012 from the yard. These newbuildings have been ordered by Frontline 2012 from the Jiangnan Changxing Shipyard in China and have expected deliveries between August 2014 and September 2015. AGHL will pay $75.0 million for each newbuilding, of which $17.4 million will be paid upfront and $57.6 million will be paid upon delivery from the yard.
In October 2013, Frontline 2012 entered into an agreement with Stolt-Nielsen Limited ("Stolt-Nielsen") and Sungas Holdings Ltd. ("Sungas") whereby Frontline 2012 became a shareholder in AGHL along with Stolt-Nielsen and Sungas. The sale of the newbuildings to AGHL is in line with the previously announced intention to enter into discussions with AGHL regarding these newbuildings.
The Board is very pleased with the sale, which is the first step in streamlining the activities of the Company by breaking the company up in several new companies and creating pure plays in different shipping segments through consolidation, divestment and spin offs.
Following the acquisition, AGHL becomes the third largest, pure play VLGC owner and operator with six vessels on the water and eight newbuildings with attractive delivery dates.
November 19, 2013
Frontline 2012 Ltd.
Hamilton, Bermuda
Questions should be directed to:
Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
+47 23 11 40 00
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 00
1 Year Frontier Airlines Hldgs (MM) Chart |
1 Month Frontier Airlines Hldgs (MM) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions